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How to Know If You Are Eligible for a Bajaj Finserv Engineer Loan?

  • Highlights

  • Meet the eligibility criteria

  • Gather the relevant documents

  • Improve your credit score

  • Engineer Loans with Flexi facility

Picture this: A water sanitation company has handed you a contract to build a major wastewater system in one of Lucknow’s suburbs. While it is a great opportunity, it also means that you have to buy new motor pumps, drilling machines and other equipment. The bottom line is that you need more capital. So how do you make the most of this opportunity? Get the funds you need via an engineer loan.

With fast processing, easy online application and a nominal interest rate, a Bajaj Finserv Loan for Engineers can give you your business the boost it needs. But, before you submit your application, take a minute to check your eligibility. Answer these questions and know whether you’re eligible for this loan or not.

How to apply for Bajaj Finserv engineer loan online

What kind of professional are you?

If you’re a self-employed engineer or a consultant, then you are eligible for an engineer loan.

Are you the right age?

To avail an engineer loan, you must be between 26 and 65 years of age

Do you have sufficient work experience?

You must have five years of vintage experience post your graduation, and a minimum of three years of experience being self-employed.

Do you have all the basic documents required?

Engineer loans require you to submit certain documents as part of the application process. Make sure you have all your papers in order to avoid delays.

The documents include:

• KYC documents that include proof of identity, income and address
• Passport-size photographs
• Proof of business vintage for 3 years
• Details of your engineering degree

Once you have met the eligibility criteria and have kept the required documents ready, here’s how you can get your engineer loan even quicker.

Maintain a high credit rating

A credit score is a measure of your creditworthiness. A good credit rating signifies that your past repayment record is clear. This means that your loan approval and funds transfer will happen swiftly. If you have a low credit score, be sure to clear your past debts before you apply for an engineer loan.

Work towards business stability

The more stable your business, the more confident a lender is about your ability to repay an engineer loan. A widely fluctuating profit graph isn’t the answer, so ensure that your revenue is consistent and meets a certain target every month.

Engineer Loan | Features and Benefits

How to apply for a Bajaj Finserv Engineer Loans online

There are many benefits of an engineer loan such as:

- Access to Flexi Term Loans:

This facility gives you a for your chosen tenor. You can borrow what you need, when you need it and pay interest only on the sum borrowed. Your EMIs are low since they only consist of the interest component of your loan.

You can repay the principal at the end of the tenor or make a bullet repayment when you have the funds. You can borrow multiple times to meet fluctuating expenses or prepay a part of the loan. This facility is convenient when you need funds on an ad hoc basis or can’t predict your monetary requirements.

- Availability of funds up to Rs.15 lakh:

Whether it is setting up a workspace or buying materials and equipment for your projects, you can avail up to Rs.15 lakh as your engineer loan.

- Competitive interest rates and no collateral:

With a loan for engineers, you can enjoy a competitive interest rate. This keeps your EMIs affordable and ensures that your loan is a cost-effective proposition. What makes the deal even sweeter is the fact that you don’t need to provide collateral or a guarantor for engineer loans.

The information, products, and services included in or available on bajajfinserv.in may include inaccuracies or typographical errors. Changes are periodically added to the information herein. bajajfinserv.in and/or its respective suppliers / affiliates may make improvements and/or changes on the bajajfinserv.in website at any time.
The material contained in this site and on associated web pages is general information and it is not intended to be advice on any particular matter. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. The decision with respect to any financial product or opportunity or nature or suitability or choice or the viability of any product or service shall always be sole responsibility and decision of the subscriber and user.

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